Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016-following an $8.9 billion net underwriting gain in 2015-and experienced a 25 percent drop in net income after taxes to $42.6 billion from $56.8 billion a year earlier, …
FM Global, a global business property insurer, posted an improved combined ratio of 83.2 percent in 2016—compared to 85.3 percent a year earlier—which was a market-leading result for the fourth consecutive year. Total gross premium in force increased to $5.43 …
Zurich Insurance Group AG fell in Zurich trading after posting a quarterly profit supported by one-time gains as Chief Executive Officer Mario Greco presses ahead with an overhaul of Switzerland’s largest insurer. Net income for the three months through December …
Private U.S. property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016-following a $7.3 billion net underwriting gain in nine-months 2015-and experienced a drop in net income after taxes to $31.8 billion from $44.1 …
Travelers Cos., the sole property/casualty insurer in the Dow Jones Industrial Average, posted its fourth-straight profit decline as weather-related costs climbed and investment income slipped. Third-quarter net income fell 23 percent to $716 million, or $2.45 a share, from $928 …
The personal auto insurance industry experienced significant performance deterioration in 2015, and is not showing clear signs of recovery thus far in 2016, according to a new Personal Lines Market Update report from Fitch Ratings. In contrast, homeowners insurance experienced …
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
U.S. commercial auto insurance has evolved into a chronically underperforming product segment for U.S. property/casualty insurers, according to Fitch Ratings. While the P/C industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole …
Total global reinsurer capital, comprising capital from both the traditional and alternative markets, stood at $565 billion at December 31, 2015 – a reduction of 2 percent relative to the end of 2014, according to a new report from Aon …
Pricing improvements over several years in underwriting portfolios have propelled returns for U.S. regional property and casualty insurers, according to Fitch Ratings. The ability to implement further pricing actions in a more competitive market environment will have a significant influence …